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Wave-4 'ABC' Correction completion on 28-10-2011


Technical Analysis and Research & Market Outlook

Nifty-EOD Chart(28-Oct-2011):-
Just click on chart for its enlarged view
Technical Patterns and Formations in EOD charts

1- Wave-4 correction.
2- 'ABC' Correction pattern.
3- 'ABC' Correction completion after break out of 54 Sessions range bound  market between 4720-5229.
4- Impulsive Wave-5 commencement confirmation.

Conclusions


Corrective Wave-4 completed and impulsive Wave-5 is on therefore expected that it will cross Wave-3 top(6338.50) and new highs will be seenaccording to Wave-5 targets.

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